The trend of urbanization is growing exponentially, leading to a hike in the average disposal income of the urban population, allowing people to enhance their lifestyles. The transformed lifestyles further boost the demand for passenger cars, thus, propelling the manufacturers to uplift their production to optimally cater to their customers. There has been a steady rise in the production of vehicles, including passenger cars and commercial vehicles, across North America in the post-recession era, i.e., since 2010. Lowered interest rates on loans have also favored the growth of the automobile industry. Further, in the past few years, consumer behavior toward intercity and intracity transit has transformed to a new level. With a surge in the disposable income of individuals and the stable economic structure of countries, the production of vehicles has increased exponentially owing to the rising demand for cars, which is creating the requirement for automotive brake shims.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America automotive brake shims market at a substantial CAGR during the forecast period.
North America Automotive Brake Shims Market Segmentation
The North America automotive brake shims market is segmented on the basis of material, application, and country. Based on material, the market is segmented into rubber coated, PSA material, thermoset material, and others. In 2020, the others segment held the largest share of the market, and it is also expected to register the highest CAGR during the forecast period. Based on application, the North America automotive brake shims market is segmented into two wheeler, passenger vehicle, and commercial vehicle. In 2020, the passenger vehicle segment held the largest share of the market in this region; it is also expected to register the highest CAGR during the forecast period. Based on country, the North America automotive brake shims market is segmented into the US, Canada, and Mexico. In 2020, the US held the largest market share, and the market in the US is expected to grow at the fastest CAGR during the forecast period.
Avery Dennison Corporation, Brembo S.p.A., BOSCH Auto Parts, Trelleborg Group, Meneta, Super Circle, NUCAP, Brake Performance, Delphi Technologies Plc., and TEXTAR Brake Technology are among the leading companies in the North America automotive brake shims market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 108.50 Million |
| Market Size by 2028 | US$ 136.30 Million |
| CAGR (2021 - 2028) | 3.3% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Material Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Automotive Brake Shims Market is valued at US$ 108.50 Million in 2021, it is projected to reach US$ 136.30 Million by 2028.
As per our report North America Automotive Brake Shims Market, the market size is valued at US$ 108.50 Million in 2021, projecting it to reach US$ 136.30 Million by 2028. This translates to a CAGR of approximately 3.3% during the forecast period.
The North America Automotive Brake Shims Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Automotive Brake Shims Market report:
The North America Automotive Brake Shims Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Automotive Brake Shims Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Automotive Brake Shims Market value chain can benefit from the information contained in a comprehensive market report.
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